Geode Capital Management LLC Grows Position in CVRx, Inc. (NASDAQ:CVRX)

Geode Capital Management LLC grew its stake in CVRx, Inc. (NASDAQ:CVRX) by 2.2% during the 3rd quarter, Holdings Channel reports. The fund owned 295,124 shares of the company’s stock after acquiring an additional 6,443 shares during the period. Geode Capital Management LLC’s holdings in CVRx were worth $2,600,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Barclays PLC raised its stake in CVRx by 312.5% in the 3rd quarter. Barclays PLC now owns 19,067 shares of the company’s stock valued at $169,000 after purchasing an additional 14,445 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of CVRx during the third quarter worth about $150,000. Jane Street Group LLC raised its position in shares of CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after buying an additional 5,053 shares during the last quarter. State Street Corp lifted its stake in shares of CVRx by 11.4% during the third quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after buying an additional 27,071 shares during the period. Finally, Parkman Healthcare Partners LLC boosted its position in CVRx by 52.6% during the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after acquiring an additional 235,277 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Stock Up 5.3 %

NASDAQ CVRX opened at $14.19 on Wednesday. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. CVRx, Inc. has a fifty-two week low of $6.40 and a fifty-two week high of $30.38. The business has a 50 day moving average price of $13.96 and a two-hundred day moving average price of $10.88. The stock has a market cap of $344.31 million, a PE ratio of -5.26 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last announced its earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The business had revenue of $13.37 million for the quarter, compared to analysts’ expectations of $13.28 million. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. During the same period in the previous year, the firm posted ($0.43) earnings per share. As a group, sell-side analysts predict that CVRx, Inc. will post -2.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on CVRX. Craig Hallum lifted their price objective on CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Lake Street Capital upped their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (up from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on shares of CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target on shares of CVRx in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, CVRx presently has an average rating of “Moderate Buy” and an average price target of $16.67.

About CVRx

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure.